A new accounting Intern at Gibson Corporation lost the only copy of this period's master budget. The CFO wants to evaluate performance for this period but needs the master budget to do so. Actual results for the period follow. 150,000 units $840,000 Sales volume Sales revenue Variable costs Manufacturing Marketing and administrative Contribution margin Fixed costs Manufacturing Marketing and administrative Operating profit 184,800 75,682 $579,600 254,000 123,300 $ 202,300 The company planned to produce and sell 132,000 units for $5.00 each. At that volume, the contribution margin would have been $462,000. Variable marketing and administrative costs are budgeted at 10 percent of sales revenue. Manufacturing fixed costs are estimated at $2.00 per unit at the normal volume of 132,000 units. Management notes, "We budget an operating profit of $1.00 per unit at the normal volume." Required: a. Construct the master budget for the period. b. Prepare a profit variance analysis. Complete this question by entering your answers in the tabs below. Required A Required B Prepare a profit variance analysis. (Do not round intermediate calculations. Indicate the effect of each variance by selecting "F" for favorable, or "U" for unfavorable. If there is no effect, do not select either option.) GIBSON CORPORATION Profit Variance Analysis Actual Manufacturing Variances Administrative Variances Marketing and Sales Price Variance Flexible Budget Sales Activity Variance Master Budget S 840.000 184,800 Sales revenue Variable costs Manufacturing Marketing and administrative Contribution margin Fixed costs: Manufacturing Marketing and administrative Operating profit 75,600 579,600 $ 254,000 123,300 202,300 $